Guardian Fixed Income (with Foreign Bonds)

Benchmark: FTSE Canada Universe Bond Index
Inception Date: 30-Nov-06

Investment Objective

The primary objective of the strategy is the provision of a high level of current interest income while at the same time preserving capital and seeking opportunities for capital appreciation primarily through investments in Canadian bonds, debentures, notes or other evidence of indebtedness.

Investment Strategy

We use a pro-active, disciplined management approach while employing various analytical tools to identify investments that offer value on a relative basis with a view to maximizing current income while preserving the prospect for some capital growth. We adhere to a risk management process that is designed to limit total exposure to individual issuers, diversify exposure to various term maturities and credit risks, and maintain portfolio liquidity. The strategy may be invested in foreign pay Canadian issues and securities of foreign issuers.